Nigerian oil tycoon Mohammed Indimi set to earn $1 million dividend in 2025

Nigerian oil tycoon Mohammed Indimi is set to receive a N1.44 billion ($1.05 million) payout from his stake in Jaiz Bank, the pioneer of non-interest banking (Islamic banking) in Nigeria. 

This payout is part of the lender’s recommended total dividend of N4.91 billion ($3.57 million) for fiscal year 2025, reflecting the company’s robust financial performance.

The dividend, to be paid, is a testament to Jaiz Bank’s impressive financial results. The board of directors recommended a dividend of N0.11 ($0.00008) per share for the 2025 fiscal year.

Indimi’s non-executive role impacts Jaiz Bank’s record growth
Indimi, founder of Oriental Energy Resources, is Jaiz Bank’s largest shareholder, holding 29.36%, equivalent to 13.09 billion shares. 

The bank’s strong financial performance in 2025 underpins the recent market rally. Profit rose 28.41% to N30.16 billion ($21.99 million) as of 2025, up from N23.48 billion ($17.12 million) a year earlier. 

Total assets climbed 19.12%, reaching N1.29 trillion ($938.7 million), compared with N1.08 trillion ($788.06 million) at the end of 2024. Retained earnings rose by 83.56% from N15.69 billion ($11.44 million) to N28.8 billion ($21 million).

As of this report, Jaiz Bank ranks 39th among the most valuable companies listed on the Nigerian Exchange with a market capitalization exceeding $400 billion ($290 million). It also retains its distinction as Nigeria’s first non-interest bank, benefiting from rising investor interest in ethical and Sharia-compliant finance.

Indimi’s Jaiz Bank stake delivers $1 million payday

Jaiz Bank’s strong financial performance prompted its board to propose a dividend of N0.11 ($0.00008) per share, up 57.14% from the dividend of N0.07 per share paid to shareholders in the previous year.

Mohammed Indimi, who holds a 29.36% stake in Jaiz Bank, equivalent to 13.09 billion shares, stands to receive N1,440,240,962.16 ($1,050,552.32), solidifying his position as one of Nigeria’s richest bankers and a prominent lawyer in the Nigerian financial services industry.